Global laparoscopic tumor ablation market is expected to witness a positive growth during the forecast period. Microwave ablation technology will be the most profitable. Liver application will become the most lucrative. Asia-Pacific will dominate the market. Leading players of the market are focusing on developing new strategies such as merger and acquisition, product launches, partnership, and collaboration to sustain the growth of the industry.
According to a latest report published by Research Dive, the global laparoscopic tumor ablation market is expected to garner a revenue of $2490 million at a CAGR of 11.10% during the forecast period.
The comprehensive report delivers a brief overview of the current scenario of the market including significant aspects of the market from growth factors, challenges, other market dynamics, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
Rising number of cancer patients across the globe, expansion of ablation centers, hospitals and clinics are the major attributors of the market growth. Another driving factor of this growth is the increasing investments in healthcare industry for the adoption of advanced treatment and diagnosis methods in hospitals and clinics.
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Technological innovations and increase in the minimally invasive procedures in healthcare sector are anticipated to create significant investment opportunities for the growth of laparoscopic tumor ablation market.
The report has divided the market based on technology type, application, and regional analysis.
Microwave ablation technology will be the most lucrative
Radiofrequency (RF) ablation accounted for a significant market share in 2018 and is further anticipated to continue its growth during the projected time. The main reason behind this growth is the extensive application of RF ablation in the hospitals and ablation centers. RF ablation has various advantages which include less risk to the patient, efficiency, minimally invasive procedure with no skin incision and others.
Liver application will register the highest market size
Liver application generated the highest revenue in 2018 and is further predicted to maintain the growth during the forecast period. The extensive usage of laparoscopic ablation systems for the treatment of the liver cancer is another reason behind the growth of the industry.
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Asia-Pacific will lead the industry
Asia-Pacific is anticipated to generate a significant revenue in the market during the forecast period. This growth owes mainly to the growing cancer cases and rise in the geriatric population in the Asia-Pacific region.
Key players of the market
The report has included the leading market players of the global laparoscopic tumor ablation market. They include Medtronic, Boston Scientific Corporation, BTG International Ltd, EDAP TMS, Misonix, AngioDynamics, Sonacare Medical, HealthTronics, Inc., NeuWave Medical, Inc., and Mermaid Medical, Inc., among many others. The report also recapitulates many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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